The takeover of Italy's recycling and waste management company Euro-cart srl will boost Hamburger Recycling's processing capacity and strengthen its position in the international recovered paper market.
Hamburger Recycling, a company of Austria's privately-owned Prinzhorn Group, has finalised the acquisition of the Italian recycling and waste management company Euro-cart on 1 December. "This strategic move enhances Hamburger Recycling's operational capabilities and marks a pivotal step in its European growth strategy," the company announced.
Euro-cart is based close to Vicenza in Northern Italy's Veneto region and can collect and process up to 239,000 tonnes a year of recovered paper and other secondary raw materials, according to its new owner. With this acquisition, Hamburger Recycling expanded its total capacity for recovered paper to 2.1 million tonnes per year, spread across 39 locations in 13 countries.
The takeover of Euro-cart, which was announced in September, is considered a strategic fit for Hamburger Recycling and the Prinzhorn Group. Together with the acquisition of Italy's corrugated board and packaging company Scatolificio La Veggia, the deal marks the group's entry into the Italian market.